Revenue Cycle Management (RCM) Market in United States 2023

Revenue Cycle Management (RCM) is the process of managing the financial interactions between healthcare providers and patients. The aim of RCM is to improve the financial performance of healthcare providers by optimizing the revenue cycle, which includes all the steps involved in patient care, from scheduling appointments to collecting payments. RCM involves managing each of these steps to ensure that healthcare providers are paid accurately and in a timely manner. This includes verifying patient insurance coverage, ensuring that charges are accurately coded and billed, following up on claims that are denied or rejected, and managing patient billing and collections. RCM is important because it helps healthcare providers improve their cash flow, reduce denials and rejections, and increase revenue. By improving the revenue cycle, healthcare providers can also improve the patient experience by reducing billing errors and delays. Additionally, RCM can help healthcare providers comply with regulatory requirements, such as those related to billing and coding. The revenue cycle management market in United States is anticipated to increase by USD 15.5 billion till 2029 at an average annual growth of 10.7 percent as per the latest market estimates.

This industry report offers market estimates of the United States market, followed by a detailed analysis of the product, and end user. The United States market data on revenue cycle management can be segmented by product: services, software. According to the research, the software segment had the largest share in the revenue cycle management market in United States. Revenue cycle management market is further segmented by end user: hospitals, physician practices. In 2022, the hospitals segment made up the largest share of revenue generated by the revenue cycle management market.

The United States revenue cycle management market is highly competitive. As of 2022, the major players in the United States revenue cycle management market were 3M Company, athenahealth Inc., Cerner Corporation, Change Healthcare Inc. (Optum Inc.), Conifer Health Solutions LLC., eMDs Inc., Experian Health Inc., Greenway Medical Technologies Inc., NextGen Healthcare Inc., Optum Inc., Veradigm Inc. (Allscripts Healthcare Solutions Inc.), Waystar Inc.

The data-centric report focuses on market trends, status and outlook for segments. With comprehensive coverage of the market across different market segments, the report is a valuable asset for the existing players, new entrants and the future investors.

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